Nasdaq PHLX fines Jane Street Options for alleged rule violations
Jane Street Options, LLC has agreed to pay a fine of $25,000 as a part of a settlement with Nasdaq PHLX LLC.
During the period from August 1, 2022 through April 1, 2025 (the “Relevant Period”), Jane Street Options was registered as a Market Maker on Phlx.
Throughout the Relevant Period, the firm failed to establish adequate supervisory systems and controls that were reasonably designed to prevent and detect, insofar as practicable, violations of Phlx rules concerning allowable quote widths.
As a result, Jane Street Options violated Phlx Rule General 9, Sections 20(h) and l (c)(l ).
On top of the $25,000 fine, the firm has agreed to a censure.
JSO is a quantitative trading firm and options market maker based in New York, NY. The firm became a member of Phlx in August 2012.
